| By Phil Franz-Warkentin, Commodity News Service Canada |
| Nov. 21, 2012 |
Winnipeg – ICE Futures Canada canola contracts were slightly lower in most months at Wednesday’s close, after trading to both sides of unchanged during a choppy session. Positioning ahead of the US Thanksgiving holiday was the feature, according to participants.Read AlsoCanadian Financial Close: Loonie virtually unchangedBy Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar remained firm on Friday, along with its United… CBOT soybeans were lower at the close, which was somewhat bearish for canola, according to traders. However, soybean oil was higher, which helped Canadian crush margins show some improvement and underpinned canola values. Steady domestic crusher and exporter pricing was somewhat supportive for canola as well, according to participants. A lack of significant farmer selling provided further support. However, good South American crop conditions for the soybeans growing there and a firm Canadian dollar did weigh on canola values. About 12,980 canola contracts were traded on Wednesday, which compares with Tuesday when 10,470 contracts changed hands. Spreading accounted for about 8,394 of the contracts traded. Milling wheat and durum futures were both untraded, but wheat values were revised lower after the close while durum was revised higher. Barley was untraded and unchanged. Settlement prices are in Canadian dollars per metric ton.Price Change Canola Jan 579.20 dn 0.40 Mar 576.80 dn 0.30 May 575.30 dn 0.30 Milling Wheat Dec 297.30 dn 2.90 Mar 306.80 dn 2.90 Durum Dec 312.00 up 0.20 Mar 318.60 up 0.20 Barley Dec 250.00 unch Mar 253.00 unch |
